HTX and Poloniex Announce Plans to Reward Users and Cover Losses

HTX and Poloniex Announce Plans to Reward Users and Cover Losses

In a recent announcement, Justin Sun, a prominent representative for the crypto exchanges HTX and Poloniex, revealed plans to reward users and cover losses resulting from hacker attacks. This move comes as both exchanges approach the reopening of deposit and withdrawal services.

According to Sun’s statement, an “epic airdrop” will be initiated for users with assets on HTX and Poloniex. Further details were provided by HTX, mentioning that the airdrop amounts will be determined based on a snapshot of users’ 30-day average asset balance in USDT, known as “Rockets.” Notably, the Rocket values of users holding HTX Token (HT), Tron (TRX), Bitcoin (BTC), and Ethereum (ETH) will be multiplied. Although HTX did not disclose the specific cryptocurrency for the airdrop, the exchange asserted that it will involve a premium asset that will soon be listed.

The intention behind the airdrop is to express gratitude to customers for their ongoing support. It serves as an additional distribution strategy aimed at rewarding users who chose not to withdraw their balances during the hacker attacks. However, it remains uncertain whether HTX is obligated to directly compensate any user account balances.

Both HTX and Poloniex fell victim to separate attacks in November. On November 10th, Poloniex lost a staggering $120 million. In response, the exchange plans to resume deposits and withdrawals on November 30th. On November 22nd, HTX suffered an estimated loss of $13.6 million from another attack. Initially, HTX pledged to restore withdrawals and operations within 24 hours but only partially fulfilled this promise. However, HTX has now resumed Tron (TRX) deposits and withdrawals, as confirmed by Sun and HTX.

While HTX has resumed some services, it has also announced the reopening of deposits for select cryptocurrencies on the Ethereum and Tron blockchains. This includes HTX’s own HT and HUSD tokens, major stablecoins, and various other assets. HTX aims to regain the trust of its users by gradually restoring full functionality.

In light of the recent hacker attacks, HTX and Poloniex have made commendable efforts to compensate their users. The “epic airdrop” serves not only to cover losses but also to reward customers for their loyalty during tumultuous times. As both exchanges gradually recover, it is crucial for users to remain vigilant and follow any additional security measures implemented to safeguard their assets.

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